Roxy-Pacific buys freehold River Valley site for $110m

View of the vacant lot, which is expected to be developed into an apartment project comprising over 100 units. (Photo: Roxy-Pacific Holdings) Roxy-Pacific Holdings subsidiary RH Capital Two has signed an agreement to acquire a freehold residential site along River Valley Road for $110 million, the group announced on Monday (7 August). Located about 200m from the upcoming Great World City MRT station on the Thomson-East Coast Line, the vacant lot has a land area of 28,798 sq ft and an existing plot ratio of 2.8 under the 2014 Master Plan. SEE ALSO: Roxy-Pacific net profit down 26% in Q2 Roxy-Pacific intends to develop the site into a high-rise apartment block of over 100 units, and is expected to launch the project in Q3 2018. Responding to our queries, a spokesperson for the developer said: “The acquisition was premised on the company’s view that prime properties are curre...